December 27, 2024, Mumbai: Sanathan Textiles Limited’s shares made their exchange debut at a 31% premium.
The scrip was launched for Rs 422.30 per share on the NSE, which was a 31.56% premium, and Rs 419.10 per share on the BSE, which was a 30.56% premium. On the BSE, the company’s share price finished at Rs 389 per share, which was 21.18% higher than the closing price on the NSE, which was Rs 393.90 per share, which was 22.71% higher.
The entire amount traded on the BSE was 12.49 lakh shares, while the total amount traded on the NSE was 137.03 lakh shares. On the first day, the total turnover (BSE+NSE) was Rs 611.16 crore.
Sanathan Textiles Limited’s CMD, Mr. Paresh Dattani, stated: “We are incredibly appreciative and humbled by the tremendous faith and support that our investors have shown us. Our journey has reached a major turning point with today’s listing, and it would not have been feasible without your faith in our plan and vision. As we embark on this new phase as a publicly traded business, we reiterate our dedication to generating sustainable growth, providing value to our stakeholders, and improving the overall state of the economy. We would like to express our sincere gratitude to all of our partners, staff, and supporters for helping us achieve this significant milestone.”
At today’s closing price, the company’s market capitalisation was Rs. 3283.32 crore according to the BSE and Rs. 3324.68 crore according to the NSE.
From December 19 to December 23, the business announced a Rs 550 crore issuance for subscription. There was a lot of interest in this, and 36.9 subscriptions were made. The portions for qualified institutional buyers and non-institutional investors were subscribed to 44.39 and 79.59 times, respectively. in turn. Retail Portion was subscribed 9.31 times.
Sanathan Textiles Limited is a textile yarn manufacturer that operates in three business verticals: technical textile and industrial yarns; polyester yarn products; and cotton yarn products.
Among our peer group, Sanathan Textiles is one of the few companies in India that operates in the polyester, cotton, and technical textile sectors. These textiles are used in a variety of end-use segments, such as the automotive, healthcare, construction, sports and outdoor, and protective clothing industries.
As of Fiscal 2024, we held a 1.7% market share in the Indian textile yarn sector overall, based on our operational income. The CRISIL Report is the source. Currently, all the three yarn verticals are housed
under a single corporate entity. This has facilitated our diversification into new segments which in It has enabled us to serve a sizable clientele from a variety of industries. We have more than 3,200 active yarn product kinds as of September 30, 2024 (i.e., yarn goods produced by us between April 1, 2021, and September 30, 2024), and more than 45,000
stock keeping units (SKUs), as well as the capacity to produce a broad range of products, including over 190,000 SKUs with several applications and end uses, and over 14,000 different types of yarn products.
Value-added goods, such as dope-dyed, functional, industrial, technical, superfine/micro, cationic dyeable, and speciality yarns, are another area of emphasis for the firm.